Stimulus Package Update: ‘The President Will Sign the Proposal’


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Treasury Secretary Steven Mnuchin said on Wednesday that President Trump is prepared to sign the McConnell proposal put forward on Tuesday.

Tuesday morning marked the start of resumed negotiations on the next round of federal aid legislation, and with a December 11 government shutdown looming, it’s unclear whether an agreement will be reached on a new relief package.

By Tuesday afternoon, Mitch McConnell had unveiled a trimmed-down relief package and on Wednesday morning, Treasury Secretary Steven Mnuchin told reporters that President Trump will sign McConnell’s new stimulus proposal.

While testifying during a Senate Banking Committee hearing, Mnuchin said, “The president will sign the McConnell proposal that he put forward yesterday. We look forward to making progress on that,” Reuters reported.

During a phone call between Mnuchin and House Speaker Nancy Pelosi– the last call between the two took place in October– Pelosi issued a statement that said additional stimulus

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Clarkson University Students Launch Flourishing Care Package Business

Potsdam, NY, Dec. 02, 2020 (GLOBE NEWSWIRE) — One of the most traditional methods for family members to maintain a connection with their college student while they’re away at college is to send a care package. Here at Clarkson, a pair of brothers has taken the concept of a care package and turned it into a flourishing business that makes the process easier for family members and ensures that students receive their goodies in a timely fashion. 

Dylan Practico ’21, an innovation and entrepreneurship major, and Brandon Practico ’24, a business studies major, continue to expand the business Dylan founded as a first-year Golden Knight. We spoke with them about College Care and all that goes into providing a convenient care package service for Clarkson students.

How did this business come to be and when was it started?

Dylan: When I was a freshman in Professor Marc Compeau’s class, we

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Pelosi, Schumer say $908 billion economic relief package should be starting point for new talks

House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles E. Schumer (D-N.Y.) said in a statement that “we believe the bipartisan framework introduced by Senators yesterday should be used as the basis for immediate bipartisan, bicameral negotiations.”

Before Wednesday, Democratic and Republican leaders had squared off for months, insisting on bills that the other side wouldn’t accept. Wednesday’s announcement by Pelosi and Schumer appeared to be the first time that leaders from one party agreed to back a proposal that had substantial support of members of the other party.

And the willingness to accept a potential bill totaling less than $1 trillion represents a significant step-down for the top Democrats, who had pushed for more than $3 trillion in new aid earlier this year.

President-elect Joe Biden has urged Congress and the Trump administration to pass immediate economic relief measures during the lame duck session of Congress, warning that

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Inside the Latest $908 Billion Aid Package for Small Business

A bipartisan group of lawmakers unveiled a $908 billion stimulus proposal on Tuesday, in a last-ditch effort to get a bill passed this year.

The group dubbed the “problem solvers caucus,” which includes Senators Joe Manchin (D-W.Va.), Mitt Romney (R-Utah), and Susan Collins (R-Maine), offered a framework for an emergency-relief funding bill meant to aid individuals and small businesses through April 1.

The bill provides $300 a week in federal unemployment benefits for 18 weeks–offering support to gig workers, among others–and would be retroactive to December 1. It also supplies $300 billion in aid for small business programs, including the now-expired Paycheck Protection Program and the Economic Injury Disaster Loan (EIDL) program, due to sunset on December 31. Businesses would also see some accommodation for increased liability protections–one of the sticking points in earlier stimulus negotiations.

Specifically, the proposal includes a temporary suspension of Covid-19-related lawsuits at the state or

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No second check in new stimulus package proposal, but you still could benefit anyway

A bipartisan group of Senators is expected to unveil a new $908 billion stimulus proposal Tuesday, the Washington Post reports, breaking a months-long stalemate over the contents of a bill. If passed, the new economic relief package would renew a handful of federal assistance programs set to expire by the end of the year but pass over a second round of stimulus checks. Through this spring’s CARES Act, the IRS sent over $270 billion in financial aid to individuals and families with the first economic impact payments.



a close up of text on a white surface: Several economic support programs will run out by year's end without help from Congress. James Martin/CNET


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Several economic support programs will run out by year’s end without help from Congress. James Martin/CNET



a close up of text on a white background: Several financial support programs will run by year's end with Congress' help.


© Angela Lang/CNET

Several financial support programs will run by year’s end with Congress’ help.


The new proposal, from a mix of Republican and Democratic Senators, would look to extend enhanced unemployment aid, small business payroll assistance and

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Central Minnesota business owners weigh in on how state relief package could help them best

Small business owners gave Minnesota House members feedback at a virtual town hall Monday night about how to help them do one thing: survive as the COVID-19 pandemic rages on.



a living room filled with furniture and a wood floor: Rep. Dan Wolgamott welcomes people to an emergency virtual town hall from his living room Monday, Nov. 30, 2020, in St. Cloud. The meeting was held to hear feedback from residents regarding a proposed economic relief package to mitigate the effect of COVID-19 restrictions.


© Dave Schwarz, [email protected]stcloudtimes.com
Rep. Dan Wolgamott welcomes people to an emergency virtual town hall from his living room Monday, Nov. 30, 2020, in St. Cloud. The meeting was held to hear feedback from residents regarding a proposed economic relief package to mitigate the effect of COVID-19 restrictions.

Most businesses have run through the loans and grant funding they’ve received, and the pandemic stretches on, said Rep. Mohamud Noor, vice chair of the House Jobs and Economic Development Finance Division.

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The Legislature is working though proposals for an economic relief package intended to move quickly and serve as a short-term patch as states and businesses await possible federal assistance, DFL House Majority Leader Ryan Winkler said.

Business owners

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Italy approves latest stimulus package to help pandemic-hit business

ROME, Nov 21 (Reuters) – Italy’s government has approved a new package worth around 10 billion euros ($11.9 billion) to support businesses hit by the second wave of the coronavirus pandemic.

Under the measures approved late on Friday, Rome will immediately offer 1.95 billion euros in grants to coronavirus-hit businesses and food aid for the poor.

The government is also preparing an additional 8 billion euros to beef up aid schemes already in place.

On Friday, the health ministry reported 37,242 new coronavirus infections and 699 deaths, as the country struggles to curb a resurgence of cases and fatalities which are stretching its health service to breaking point.

Italy’s economy is expected to contract by at least 9% this year due to lockdown measures aimed at reining in the epidemic.

The new measures are not expected to push this year’s budget deficit above the current

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American Express Has A ‘Stimulus Package’ For Independent Retailers: It’s Small Business Saturday

Small independent retailers are “doomed,” said CNBC’s Jim Cramer this week. The failure of Congress and the President to pass a second stimulus package puts retail further into the hands of large retailers, like Walmart, Target, Costco, Home Depot, Lowe’s and Amazon. “

“These companies have picked up a giant amount of allegiance…These companies have wiped out a lot of smaller companies because there’s no stimulus,” he said, leaving Main Streets across the country full of “empty storefronts.”

But when government fails, private enterprise often picks up the pieces and that is just what American Express
AXP
is doing with its bigger and better than ever Small Business Saturday on November 28.

And this year, Small Business Saturday is just the kickoff of a much larger

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Realfiction announces its plan for completion of the ECHO integration license package

STOCKHOLM, Nov. 19, 2020 /PRNewswire/ — Realfiction Holding AB (“Realfiction” and/or “the Company”) announces a completion phase including a potential further optimization for production which is expected to result in even lower manufacturing costs and a slimmer form factor. The completion phase is planned to last 13-16 months in collaboration with a couple of leading European research institutes and facilities. By spring 2021, Realfiction will also actively seek a co-development agreement with a commercial display manufacturer to speed up time to market.

As part of the ongoing ECHO development, Realfiction has identified a potential further reduction in complexity compared to competing technologies of a central component of the ECHO technology, namely the backplane, thus potentially paving the way for even cheaper fabrication, a more rapid integration and thereby a shorter time to market, and a slimmer form factor for both the LCD and the OLED version. The Company is

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Ultra-cheap loans key for next stimulus package: ECB’s Muller

The European Central Bank should put ultra-cheap loans at the core of its next stimulus package being prepared for December, Governing Council member Madis Muller said.
Speaking in an interview from Tallinn, the Estonian central bank chief emphasised the need for a renewed so-called TLTRO push rather than additional bond buying via the Pandemic Emergency Purchase Programme, saying the situation isn’t like it was in March when the ECB was fighting market dislocation.
“Perhaps PEPP by itself is not the best tool to provide further support, and we should at least think about a combination of different measures,” Muller said. “It’s best if we can find measures that more directly address the financing conditions for the private sector in particular. In that sense, speaking of TLTROs it would be a possible tool that should be on the table.”
President Christine Lagarde said on Wednesday that the ECB will focus on

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